Part of Our USDT Insurance Fund Has Been Reallocated to USDe

This week, we have performed a small reallocation of our Insurance Fund, with some Tether balance exchanged for USDe, which will be held in our regular custody.

You can find the exact amounts held in the Insurance Fund here. They are published daily and are verifiable for crypto holdings on our Proof of Reserves and Liabilities.

The rebalancing will have no impact on any users’ trading activities, positions, deposit or withdrawal frequencies. No changes have been made to the mechanics of allocation or drawdown of funds from the Insurance Fund. All maintenance margin and liquidation price calculations remain as is. 

If you would like to know more about how the Insurance Fund operates you can read more either here and/or here. If you would like to know more about USDe, you can read more from Ethena Labs here.

In the meantime, if you have any questions about this please contact Support who are available 24/7.